Part Three - Closing

In our contract with the bank we were supposed to close on April 11th.  We didn't receive the report back from the appraiser until April 9th.  Unfortunately there wasn't any way to complete all of the needed work by closing.  I should add that the bank had made it VERY clear that they wouldn't pay for anything to be repaired.  Our loan officer mentioned that we could possibly create a repair escrow which would allow us to close on the 11th and we would have six days to complete the needed work.  This sounded doable.  The other option would be to delay closing and complete the work prior to closing.  Our realtor recommended against this because she didn't see any reason to put more money into something we didn't own.  Matt, our loan officer, asked for an estimate for the needed repairs and thank goodness our realtor, Deanne is married to a general contractor who quickly estimated the costs for the needed repairs.  Matt met with the underwriter and imagine my surprise when he called with great news.  (We met Matt twelve years ago when we bought our first home.  He worked tirelessly to help us with this mortgage and we are so thankful.)  They were going to allow us to close on April 11th without the repair escrow and they would trust that we would complete the repairs in five days.  The appraiser would need to go out a final time to sign off on the repairs.  Let the work begin!  On April 11th at 12:33 p.m. we became proud owners of The Bunny House.

 Damage to the kitchen - holes in the ceiling where they let all the water drain.

 Hole in the formal dining room.

 Erin's room where the pipes broke.

 Ridiculous stain that the appraiser wanted us to remove.  Never mind the fact that we are replacing all of the carpet.

This mess wasn't there when we first looked at the house.  The plumbers had to cut more holes in the ceiling to fix any additional leaks.  I felt terrible that we didn't own the home and they had damaged it.

 Hole in the master bath.

 Another hole the plumbers cut.

The pipe that broke was in the second floor of the home.  The water went into the kitchen on the main floor and all the way to the basement.  The hole in the basement was the biggest hole to be fixed.

After pictures coming soon....

Posted by:  Bekki